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Explain as completely as you can what an economist means by demand (supply) and discuss (this implies that you are able to discuss why the factor causes the shift and explain the direction of the shift ...(this can be done in one sentence for each factor) ALL the factors that can shift a demand (supply) curve. How does a change in demand (supply) differ from a change in quantity demanded (quantity supplied)? Explain what happens to Pe and Qe when demand (supply) increases and when demand (supply) falls.
explain how changes in equilibrium occur as a result of changes in fiscal and monetary policy.
When files are deleted in an operating system the space is typically returned to the free list but the blocks are not erased. Describe how a system can be designed so that the data is not recoverable.
Nobody likes pollution (or crime, or accidents)! But economists, as they so often do, bring a different perspective to the issue of pollution. Assume that a paper plant dumps the chemicals it uses in making paper into the river it is located next to,..
How many different meals are available when you select an? appetizer, an? entrée, and a? dessert?
Give two distinct reasons why studies might show that physicians firm might use too few nurses and other aides relative to profit maximizing amount of those two types of input.
What is the difference between a population distribution and a sampling distribution?
If the actual price level exceeds the expected price level reflected in long-term contracts, real GDP equals __________ and the actual price levels equals _________ in the short run. List three factors that can change the economy’s potential output. ..
The first of a series of equal monthly cash flows of $2000 occurred on April 1,2008, and the last of the monthly cash flows occurred on February1, 2010. This series of monthly cash flows is equivalent to aseries of semi-annual cash flows.
Suppose Mary’s utility function for two goods X and Y is given by: U(X,Y) = 2X1/3 Y2/3. If Px = $4, Py = $5, and Income I = $200, compute Mary’s utility maximizing consumption bundle. Show the utility maximizing consumption bundle on a graph.
Suppose that the money demand function of country Y is (M/P)d = L(i, Y ) = L(r + Eπ, Y ). (a) Write down the equilibrium conditions of real money balances (b) What will happen to the inflation rate, if money supply goes up? (c) What will happen to th..
Katherine Lim purchased a condominium for $50, 000 in 1987. Her down payment was $20, 000. She financed the remaining amount as a $30, 000, 30-year mortgage at 7%, compounded monthly. Her monthly payments are $200. It is now 2007 (20 years later) and..
Examine the following proposed tax reforms. Evaluate them according to the following three principles for optimal taxation: equity, efficiency, and complexity considerations.
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